Daily COVID19 Report - 4 May 2020

The slow and steady trend towards normalization we have been tracking for the last ten days continues to gather momentum on the first Monday of May. Moreover, despite this morning's saber rattling over US-China trade wars, the reality is that trade policy is the first sector to register normalization even as financial regulators continue to expand their emergency measures.

The data does not lie. Whether we are looking at this morning's Momentum Measures:

or a time series for "trade war" during the pandemic era

the outcome is the same: trade policy is not the most active policy silo by a long shot. 

Markets were unsettled this morning due to hot rhetoric between the United States and China but a quick review of platform data and intraday activity indicates that policymakers are actually taking positive steps regarding cross-border trade. See Section I below.

As noted in today's blogpost, strategic players find opportunity amid the disruption. This observation helps place in context today's efforts by the Securities and Exchange Commission to accelerate access to crowdfunding (Section II) and additional regulatory easing (Section III).

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